ABSTRACT

PADOA-SCHIOPPA REPORT is the name of a report commissioned by the European Commission and submitted in April 1987 by a committee headed by Tommaso Padoa-Schioppa (1940-), the Deputy Director-General of the Bank of Italy. The committee had been asked to evaluate the effect of the entry into the European Communities (EC) of Portugal and Spain, and of the commitment to an internal market upon the EC’s economic system. The Report contained four major recommendations: the establishment of a common monetary policy; the promotion of cohesion; the completion on schedule of the internal market; and the development of a macro-economic strategy. These steps, it argued, were necessary to promote economic development while preventing an aggravation of regional economic differences within the EC

A PARAGRAPH is a sub-element of an Article in the European treaties. Paragraphs within an Article are usually numbered.